J.P. Morgan Chair steps into new role

J.P. Morgan has announced that Rod Eddington is stepping down as chair of the firm's Australia & New Zealand business to establish the firm's Asia Pacific Advisory Council, effective immediately.

In his new role, according to the firm, Eddington will bring together "experienced strategic advisers in order to deepen relationships" with J.P. Morgan's clients in the Asia Pacific region.

Commenting on the changes, J.P. Morgan chair and CEO for Asia Pacific, Nicolas Aguzin, said: "Sir Rod is a highly respected leader who has a tremendous amount of experience in the Asia Pacific region, which resonates strongly with our clients."

"I would like to thank Sir Rod for his support for our Australia and New Zealand business over the past 11 years and I am very excited to welcome him to an important role with a regional focus."

Eddington' successor as chair is former CEO for Australia and New Zealand, Rob Priestley. In turn, Paul Uren has been appointed as Priestly's successor and will take on the role of CEO for Australia and New Zealand in addition to his responsibilities as head of global investment banking.